On January 8, with 17 Republicans joining all Democrats, the House passed a bill, H.R.1834, that would reinstate the now-expired enhanced Affordable Care Act (ACA) health insurance premium tax credits (PTCs) that were at the heart of the October-November government shutdown. The vote was 230 to 196.
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House Passes Three-Year Extension of Enhanced Premium Tax Credits
By NAIFA on 1/16/26 9:02 AM
Topics: Health Care Legislation & Regulations
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House Passes Health Reform Measure that Excludes PTC Extension
By NAIFA on 1/16/26 9:01 AM
On December 17, the House of Representatives passed a bill, H.R.6703, that would make it easier and/or less expensive for individuals to buy health insurance and/or for employers to offer health insurance to their workers. However, the bill did not include an extension of the now-expired enhanced Affordable Care Act (ACA) health insurance premium tax credits (PTCs). The vote was 216 to 211.
Topics: Health Care Legislation & Regulations
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Key House Democrat Reintroduces Auto IRA Bill
By NAIFA on 1/16/26 8:59 AM
Rep. Richard Neal (D-MA), ranking member on the House Ways & Means Committee, has reintroduced his automatic IRA legislation. The bill would require employers to enroll their workers (subject to a worker opt-out right) into workers’ individual IRAs.
Topics: Retirement Planning Legislation & Regulations
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Key Lawmakers Introduce Deficit Reduction Resolution
By NAIFA on 1/16/26 8:52 AM
The co-chairs and members of the Congressional Bipartisan Fiscal Forum (BFF) have introduced a resolution calling on Congress to enact legislation to reduce the federal deficit to three percent of gross domestic product (GDP). A deficit that amounts to about three percent of GDP would be about half of its current (six percent of GDP) level.
Topics: Legislation & Regulations Congress
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House Committee Advances Bills to Allow Compensatory OT, Self-Audit on Wage Theft
By NAIFA on 12/15/25 1:42 PM
On November 20, the House Education and the Workforce (EWF) Committee favorably reported (sent to the full House for a vote) bills that would allow compensatory overtime (OT), and codify the PAID self-audit program. The 19 to 15 vote to advance the bills was largely party-line.
Topics: Advocacy Legislation & Regulations
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Federal Government Shutdown Ends
By NAIFA on 11/17/25 10:41 AM
On Wednesday November 12 President Trump signed into law a Senate-passed agreement that was approved by the House that reopened the federal government. The agreement guarantees a Senate vote by mid-December on extending the Affordable Care Act enhanced premium tax credits (PTCs), funds about 10 percent of the government for all of FY 2026, funds the remaining 90 percent of federal government discretionary activity at FY 2025 levels until January 30, reverses reductions in force (RIFs) done on or after October 1 and forbids further government layoffs through January 30. The National Flood Insurance Program (NFIP) is reauthorized until January 30, 2026, and is reauthorized retroactively to October 1, 2025.
Topics: Legislation & Regulations Federal Advocacy
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Congressional Republicans Are Working on a Health Package
By NAIFA on 11/17/25 10:37 AM
Republican lawmakers in both the House and the Senate have begun work on a health package for Congress to consider after the federal government reopens. President Trump said the effort should also include Democrats, saying a “much better than Obamacare” law can be developed.
Topics: Health Care Legislation & Regulations
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Treasury Official Promises Release of Regs Soon, Despite Shutdown
By NAIFA on 11/17/25 10:35 AM
Treasury’s assistant secretary for tax policy, Ken Kies, said agency lawyers are working on the regulations needed to implement the new tax law. Soon to come out will be regs on overtime, tips, car loan interest, seniors, accelerated depreciation, and Trump savings accounts, he said.
Topics: Legislation & Regulations Taxes
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DOL To Issue New Worker Classification Rule
By NAIFA on 10/15/25 10:57 AM
The Department of Labor (DOL) has signaled its intention to rescind the 2024 worker classification rule, which uses a six-part economic realities test to determine whether a worker is an employee or an independent contractor. The announcement came via the Trump Administration’s unified agenda.
Topics: Legislation & Regulations Government Relations DOL
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Senate HELP Committee Approves ESOP Bills
By NAIFA on 8/15/25 9:55 AM
On July 30, the Senate Health, Education, Labor and Pensions (HELP) Committee approved two largely administrative ESOP bills. However, the committee’s chairman, Sen. Bill Cassidy (R-LA), withdrew from consideration his larger ESOP bill that would substantially increase the amount of employer stock that can be contributed to ESOP participants’ accounts.
Topics: Retirement Planning Legislation & Regulations Federal Advocacy
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Extension of Enhanced ACA Premium Tax Credits Could Drive New Tax Package
By NAIFA on 8/15/25 9:49 AM
The enhanced Affordable Care Act (ACA) premium tax credits that were enacted during the COVID epidemic lock-down expire at the end of 2025. Efforts to extend them, and other expiring health insurance rules, could drive a new tax bill this fall.
Topics: Legislation & Regulations Affordable Care Act Tax Reform
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Bipartisan Senate Duo Float Social Security Investment Fund
By NAIFA on 8/15/25 9:46 AM
Sens. Bill Cassidy (R-LA) and Tim Kaine (D-VA) have floated a proposal to create a $1.5 trillion investment fund aimed at extending the solvency of Social Security. The five-year fund would grow until it holds enough money to keep Social Security from running out of money by the projected 2033 date, the Senators say.
Topics: Legislation & Regulations Social Security
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H.R.1 Signed into Law
By NAIFA on 7/15/25 11:00 AM
On July 4, President Trump signed into law H.R.1, the $3.3 trillion budget reconciliation spending and tax cuts bill. The Senate passed the measure on July 1, by a 50-50 vote with the tie broken by Vice President JD Vance. The Senate made a raft of changes to the version the House passed on May 22. The House approved the Senate-passed measure, without changes, on July 3, by a 218 to 214 vote. Enactment came after multiple all-night, high-drama, tension-filled days as Congress raced to meet their target July 4 date for signing the measure into law.
Topics: Legislation & Regulations Tax Reform
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Section 199A Deduction for Noncorporate Business Income Now Permanent
By NAIFA on 7/15/25 10:56 AM
H.R.1, which is now the law of the land, permanently extends the 20 percent deduction for qualifying noncorporate business income (QBI).
The end result came after a rollercoaster of a journey through the legislative process. The House version increased the deduction to 23 percent and added restrictions on eligibility for the deduction. The Senate version dropped the deduction back to 20 percent and ultimately dropped new restrictions on eligibility for the deduction.
Topics: Legislation & Regulations Small Business Tax Reform
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New Law Makes Permanent Enhanced Business Loan Interest, Depreciation Rules
By NAIFA on 7/15/25 10:53 AM
The new law makes permanent enhanced business loan interest and depreciation rules. The Senate version, which was enacted into law, changed the House version of the bill that enhanced interest deductibility and depreciation rules for only five years.
Topics: Legislation & Regulations Tax Reform
Tax Package Increases Estate Tax Exemption
By NAIFA on 7/15/25 10:51 AM
H.R.1, the budget reconciliation bill enacted into law on July 3, includes a provision that permanently increases the estate tax exemption to $15 million ($30 million for married couples). The base year for indexing the $15 million exemption amount was changed to 2025.
Topics: Legislation & Regulations Estate Planning Tax Reform
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Income-Limited Tax Break for Some Seniors Approved
By NAIFA on 7/15/25 10:49 AM
Now law is a new five-year $6,000 deduction for some seniors. The Senate version of H.R.1, which has been enacted into law, creates a $6,000 special deduction from income, but not Social Security, for taxpayers over age 65 with incomes of $75,000 ($150,000/married) or less. The deduction phases down (but not below zero), at the rate of six percent of the amount by which a single taxpayer’s income exceeds $75,000 ($150,000/married filing jointly). The deduction is good for 2025 through 2028.
Topics: Legislation & Regulations Tax Reform
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Reconciliation Bill Restricts Itemized Deduction Values for Wealthy
By NAIFA on 7/15/25 10:47 AM
A “tax-the-rich” provision in the new law reduces the value of itemized deductions for 37 percent taxpayers. The provision would replace current law’s Pease limitation on the value of itemized deductions.
Topics: Legislation & Regulations Tax Reform Charity
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Health Savings Accounts Expansion Scaled Back in New Tax Package
By NAIFA on 7/15/25 10:44 AM
The new law excludes a number of enhancements to the rules governing health savings accounts (HSAs) that had been in the House-passed version of H.R.1. Two expansion provisions did make it into the new law, though: qualification of Affordable Care Act (ACA) bronze and catastrophic plans as a high-deductible health plan (HDHP) that allows a person to have an HSA and a provision that permits telehealth without triggering higher copayments or deductibles.
Topics: Legislation & Regulations Health Savings Accounts
1 min read
New Law Exempts Some Overtime Pay from Income Tax
By NAIFA on 7/15/25 10:42 AM
The new law provides that individuals earning up to $150,000/year ($300,000/married) will not pay income tax on up to $12,500 ($25,000 married) in overtime (OT) pay. This tax break takes effect this year (2025) and expires at the end of 2028.
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